Prudential Financial Inc. Reduces Stock Holdings in B&G Foods, Inc. (NYSE:BGS)

Prudential Financial Inc. lessened its position in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) by 71.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 81,310 shares of the company's stock after selling 203,500 shares during the quarter. Prudential Financial Inc. owned approximately 0.10% of B&G Foods worth $560,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BGS. PNC Financial Services Group Inc. increased its position in B&G Foods by 50.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company's stock worth $55,000 after buying an additional 2,658 shares in the last quarter. Independent Wealth Network Inc. acquired a new position in B&G Foods in the 4th quarter valued at about $77,000. SBI Securities Co. Ltd. purchased a new position in B&G Foods in the 4th quarter valued at about $79,000. Regent Peak Wealth Advisors LLC acquired a new stake in shares of B&G Foods during the 4th quarter worth about $81,000. Finally, Prism Advisors Inc. purchased a new stake in shares of B&G Foods during the fourth quarter worth about $82,000. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

B&G Foods Trading Up 8.2 %

Shares of NYSE BGS traded up $0.48 on Friday, reaching $6.26. 3,208,237 shares of the company traded hands, compared to its average volume of 1,418,389. The company has a 50 day moving average of $6.61 and a 200 day moving average of $7.06. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. B&G Foods, Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $11.72. The stock has a market capitalization of $495.01 million, a PE ratio of -18.40 and a beta of 0.74.

B&G Foods (NYSE:BGS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.01. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The company had revenue of $551.57 million for the quarter, compared to the consensus estimate of $547.95 million. On average, equities research analysts forecast that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.19 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.76 annualized dividend and a yield of 12.15%. B&G Foods's payout ratio is -23.90%.

Analyst Ratings Changes

Separately, Piper Sandler reduced their price objective on shares of B&G Foods from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $8.10.

B&G Foods Company Profile

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., Canada, and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.